The Association of Capital Market Academics of Nigeria (ACMAN) has welcomed the adoption of the unified foreign exchange (FX) by the Federal Government and canvassed the need for some economic measures to ensure a successful implementation of the new FX regime. The ACMAN President, Professor Uche Uwaleke, who described the latest monetary policy measure of […]
Multichoice Group, Africa’s leading pay TV services provider, has reported that 44% of subscription revenue in the Rest of Africa (RoA) was generated from Nigeria in the financial year ended March 31, 2023. The pay TV entertainment services company’s just published full-year financial statement showed that the RoA’s business generated a trading profit of ZAR0.9bn, […]
The Nigerian Exchange (NGX) closed positive at the end of Wednesday’s trading session as the All-Share Index (ASI) rose by 3.99% to close at 59,985.10 index points as against 58,163.55 index points recorded in the previous day’s trading session. Consequently, the market capitalization appreciated by N992 billion to close at N32.662 trillion, a 3.13% gain […]
Nigeria’s currency, the Naira, appreciated against the US dollar at the parallel market on Wednesday in the early hours of trading at the parallel market, to trade at an average rate of N755/$1, representing a gain of 1.82% compared to the N769/$1 it exchanged at when trading closed the previous day. Some Bureau De Change […]
Justice Ambrose Lewis Allagoa of the Federal High Court, Court 3, Ikoyi Lagos, has fixed 21st July this year for the commencement of trial of Mr. Michael Ukiye Diongoli, and his two companies, UK Dion Group and UK Dion Investment Limited on a 61 count charge of defrauding unsuspecting investors to the tune of over N3.7 billion. […]
The Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has reported that the number of identified areas of clusters across Nigeria without access to the telecommunications services has reduced by 53.1 per cent as at the end of 2022. Access gaps refer to the cluster of communities […]
In what appeared to be positive sentiment of investors to current changes in the Central Bank of Nigeria (CBN) and other announced policy measures by the new administration, the Nigerian equities market’s trading on Tuesday closed bullish with the market capitalization growing by highest value since July 2008, peaking at N31.670 trillion. At the close […]
The International Energy Agency (IEA) has charged governments worldwide, particularly African governments, to prioritize their strategies beyond policy measures to strengthen clean energy technology manufacturing as the drive towards cleaner environment continues to gain momentum globally. This recommendation was contained in the recently published ‘State of Clean Technology Manufacturing’ report by the global agency. In […]
TotalEnergies, a major international oil company (IOC) operating in Nigeria’s upstream industry, has announced that it discovered oil and gas in commercial quantity in the Ntokon offshore field of its oil mining licence (OML) 102 in the country. The OML is an operational conventional oil field located in Nigeria’s shallow waters in which TotalEnergies holds […]
Investment experts at Bancorp Securities Limited, one of Nigeria’s leading investment research and consulting firms, have advised investors to rebalance their portfolios with securities with good fundamentals in the face of the current fuel subsidy removal and current changes in the Central Bank of Nigeria (CBN) whirlwinds. The experts, who gave this advice in the […]